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Dec 5, 2012
12/12
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republicans agree to raise income tax rates on the top 2% of wage earners in america. this week the gop offered a proposal that continues tax breaks for everyone while making cuts to medicare and social security. the president and democrats say the lack of a tax hike on the wealthy is leaving budget talks at an impasse. "60% of americans support asking millionaires to pay slightly more. many republicans feel the same way. the only ones who feel differently are the ones who work in this building. we can't let these negotiations be dictated by the tea party." "we've wasted an enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. traders are keying off market moves for clues about the economy. scott bauer of trading advantage joins us now. scott, what is the gold market telling traders about the prosepects of the economy going over the fiscal cliff? > > angie, it has been a very interesting trade in this space recently. people look to gold as the safe haven, yet we have seen gold prices come
republicans agree to raise income tax rates on the top 2% of wage earners in america. this week the gop offered a proposal that continues tax breaks for everyone while making cuts to medicare and social security. the president and democrats say the lack of a tax hike on the wealthy is leaving budget talks at an impasse. "60% of americans support asking millionaires to pay slightly more. many republicans feel the same way. the only ones who feel differently are the ones who work in this...
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obama is prepared to take the economy over the cliff unless republicans agree to raise tax rates on the wealthy. >>> meantime in georgia, some activists expressed frustration about the stalemate in holiday spirit. they delivered symbolic lumps of coal to the offices of both of their state's u.s. senators. but security guards met them outside of republican saxby chambliss' office. eventually, a few were let inside, but without the camera and media present. of course. that would have been the real story. >> folks are upset now. see what happens january 1 after you get the first paycheck and go, oh, this is what the fiscal cliff meant. yeah. whoo, 2013. >>> all right. the next story involves a new grassroots campaign that is starting. meant to draw attention to the nation's debt crisis. it is our "favorite story of the day." the campaign is called -- "the can kicks back." >> the campaign is aimed at young people and features former republican senator allen simpson, a rather spry allen simpson at that. >> stop instagraming your breakfast and tweeting your problems and getting on youtube so
obama is prepared to take the economy over the cliff unless republicans agree to raise tax rates on the wealthy. >>> meantime in georgia, some activists expressed frustration about the stalemate in holiday spirit. they delivered symbolic lumps of coal to the offices of both of their state's u.s. senators. but security guards met them outside of republican saxby chambliss' office. eventually, a few were let inside, but without the camera and media present. of course. that would have...
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the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is scheduled to go
the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if...
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Nov 30, 2012
11/12
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KGO
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. >> the white house drew its own line in the sand and said tax rates must go up on the top earners, but -- >> the middle-class tax cut should be made permanent. >> president obama stayed out of the fiscal cliff discussions and sat down for lunch with former rival mitt romney. >> i am sure they will or have already compared experiences on the campaign trail. >> today president obama hits the road to push for his plan to avoid the fiscal cliff. but republicans have slammed him for campaign-style politics that they say just won't get the job done. rob and sunny, back to you. >> can you really imagine that they're not going to reach some sort of deal to avoid the fiscal cliff? i mean that would be so unpopular across the nation. >> you would -- if you can take an action that would solve the problem for 98% of the country and then come back to the debate about the wealthiest 2%, let's get that first chunk done. republicans fear they could lose leverage if they cave in on the middle-class issue. apparently the president, his team has made increased demand here including, a provision now,
. >> the white house drew its own line in the sand and said tax rates must go up on the top earners, but -- >> the middle-class tax cut should be made permanent. >> president obama stayed out of the fiscal cliff discussions and sat down for lunch with former rival mitt romney. >> i am sure they will or have already compared experiences on the campaign trail. >> today president obama hits the road to push for his plan to avoid the fiscal cliff. but republicans have...
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Nov 29, 2012
11/12
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KRON
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tax rates for everyone else. his two top negotiators will meet tomorrow on capitol hill. the sessions are important step on determining how the government can work together. a seemingly slight change in tone in washington today kron4's political analyst michael yaki is here to talk about it all -- >> in order to kick the debt ceiling the wanted its deficit reduction and this is basically that a stop- active measure to save it or to get a deal done. nobody wants to go there but we need deficit reduction and this is how we to it. >> . read saying that was not doing that well but now, john boehner is a saying that it is a little bit better what is going on? >> not really anything they are still talking at each other and the president is now bringing more to the bargaining table for john boehner to bring more provisions for the debt ceiling. >> at least four more weeks to get this done this is huge which is already it is a lumbering along in doing anything realistically was of the public expect at this point? >> what
tax rates for everyone else. his two top negotiators will meet tomorrow on capitol hill. the sessions are important step on determining how the government can work together. a seemingly slight change in tone in washington today kron4's political analyst michael yaki is here to talk about it all -- >> in order to kick the debt ceiling the wanted its deficit reduction and this is basically that a stop- active measure to save it or to get a deal done. nobody wants to go there but we need...
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Dec 6, 2012
12/12
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KRON
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as the man to raise tax rates at all where income levels. geiger says the problem is too big to be solved without raising tax rates on the wealthy. he drew a fierce response from republicans saying that the statement was stunning and irresponsible. egest republic golegest republis ordered protesters supporting and opposing president mohammed morsi to leave the area around the presidential palace that has been the site of fierce clashes. the guard gave broad protesters on both sides time to clear out. >> the death toll from the typhoon hit the southern philippines has climbed to 350 people today. it hit hardest in the southern philippines where entire families were washed away. and the four injured people are still missing. nato has called on north korea to cancel its plans for a second rocket launch. ambassador stated yesterday that it wants would violate u.n. resolutions and could be is that the stabilize the korean peninsula. russia and china are urging north korea to not proceed with the planned rocket launchers. >> it is now 948 and chan
as the man to raise tax rates at all where income levels. geiger says the problem is too big to be solved without raising tax rates on the wealthy. he drew a fierce response from republicans saying that the statement was stunning and irresponsible. egest republic golegest republis ordered protesters supporting and opposing president mohammed morsi to leave the area around the presidential palace that has been the site of fierce clashes. the guard gave broad protesters on both sides time to...
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no rate increases in the top 2% of taxpayers. that's non-negotiable for president obama. >> we're not going to be able to got a deal without it. >> reporter: the white house says the republicans' math just doesn't add up. >> it's magic beans and fairy dust. >> reporter: negotiations have reached a stalemate. >> there's nothing going on privately that is not going on publicly. >> reporter: there is no plan at this time for congressional leaders to meet with the president at the white house, and it doesn't sound like he's sending out invitations any time soon. >> i don't think that the issue right now has to do with sitting in a room. >> reporter: earlier, the president met with the bipartisan group of governors. >> we understand this will be a shared sacrifice, you have to look at spending cuts. states are willing to do more with less. >> the governors didn't endorse a specific proposal, not the white house version or the house republican version, but they did say that something must be done to avoid those massive mandatory spendi
no rate increases in the top 2% of taxpayers. that's non-negotiable for president obama. >> we're not going to be able to got a deal without it. >> reporter: the white house says the republicans' math just doesn't add up. >> it's magic beans and fairy dust. >> reporter: negotiations have reached a stalemate. >> there's nothing going on privately that is not going on publicly. >> reporter: there is no plan at this time for congressional leaders to meet with...
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Dec 7, 2012
12/12
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KRON
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president obama has his highest approval rating in more than a year. an associated press poll finds that the president's rating stands at 57% to highest since may of last year. when a seals killed al qaeda leader osama bin laden. the poll also finds more americans think the nation isdirection. 42 percent say that the country is on the right track and a majority believe is likely mr. obama will improve the economy. >> the u.s. supreme court is scheduled to meet behind closed doors began today to consider reviewing the legal issues regarding same-sex marriage. that includes the challenge to california's controversial proposition 8. if the court refuses to review the prop. 8 case same-sex marriage would be legal in california and same-sex couples could marry as soon as next week. >> san jose firefighters are investigating three alarm fire that ripped through a restaurant. the fire broke out last night around 930 at the pasta pomodoro on san felipe road. authorities say that the restaurant was opened for business at the time of the fire. hit it was under c
president obama has his highest approval rating in more than a year. an associated press poll finds that the president's rating stands at 57% to highest since may of last year. when a seals killed al qaeda leader osama bin laden. the poll also finds more americans think the nation isdirection. 42 percent say that the country is on the right track and a majority believe is likely mr. obama will improve the economy. >> the u.s. supreme court is scheduled to meet behind closed doors began...
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Nov 30, 2012
11/12
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KGO
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both men refusing to give ground on the issue of tax rates for the wealthy. obama insisting they go up, boehner insisting they don't. >> listen, this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. >> reporter: and taxes aren't the only sticking point. republicans are demanding the president come forward with a plan to limit spending on medicare and social security, something many democrats say is just not acceptable. >> i didn't have my own card with me. jill wouldn't let me have one. >> reporter: vice president biden got into the act today, too, taking a break from christmas shopping and snacking at costco to urge congress to extend middle class tax cuts. >> i think it's important congress acts now. i mean, right now. >> reporter: can mitt romney, with all his business experience, play a role on brokering a deal? well, don't count on it, diane. the president did not ask for his help today and the two simply agreed to keep in touch. and for now, nothing more. >> all right, thank you, jonathan k
both men refusing to give ground on the issue of tax rates for the wealthy. obama insisting they go up, boehner insisting they don't. >> listen, this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. >> reporter: and taxes aren't the only sticking point. republicans are demanding the president come forward with a plan to limit spending on medicare and social security, something many democrats say is just not acceptable....
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the white house demanding higher tax rates for the top two tax brackets and republicans refusing. after refusing the proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction mostly through spending cuts, and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> thank you. >> reporter: -- a senior white house official assailed it as a step backwards saying if republicans do not agree to some higher rates for wealthier taxpayers, the nation will go over the cliff and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck, so the lack of progress has not yet resulted in a market plunge, but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. and, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square, but there's actually another deadline. the house of representatives is schedu
the white house demanding higher tax rates for the top two tax brackets and republicans refusing. after refusing the proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction mostly through spending cuts, and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> thank you. >> reporter: -- a senior white house official assailed it as a step backwards saying if republicans do...
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aides to president obama and house speaker john boehner, sitting down on thursday. but no progress was made. the sticking points, tax rates for wealthy americans, a possible lifting of the nation's debt ceiling and cutting spending on entitlements. >>> and in yet another bizarre twist in the bizarre saga of software tycoon john mcafee. mcafee was rushed to the hospital thursday from a detention center in guatemala city, after complaining of chest pains. he's now back in his cell and could be send back to belize, where police want to question him about the murder of his neighbor. >>> now, here's diane sawyer with a preview of tonight's "world news." diane? >> so, josh, it's friday. it's great to talk to you. and how about a holiday tradition for years? everybody wondering, what happened to the determined little boy they loved? well, he's all grown up. and he has a perfect gift for you. tonight, behind the scenes of a christmas classic. and he is our "person of the week" tonight. >> cannot wait to see that. >>> and finally, well, we would be remiss if we did not recog
aides to president obama and house speaker john boehner, sitting down on thursday. but no progress was made. the sticking points, tax rates for wealthy americans, a possible lifting of the nation's debt ceiling and cutting spending on entitlements. >>> and in yet another bizarre twist in the bizarre saga of software tycoon john mcafee. mcafee was rushed to the hospital thursday from a detention center in guatemala city, after complaining of chest pains. he's now back in his cell and...
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Nov 29, 2012
11/12
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CNNW
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obama and the democrats get their way, doing a deal to raise those rates where all bush cuts on all tax brackets expire at the end of the year. that is something that gives president obama a lot of clout right now. you can agree or disagree with the president's policy. that's for you to decide. congressman cole happens to disagree strongly, but at the same time he recognizes the political reality that all tax cuts will expire on january 1st. >> in my view, we all agree that we are not going to raise taxes on people that make less than $250,000. we should take them out of this discussion right now and continue to fight against any rate increases. continue to try to work honestly for a much bigger deal. >> congressman cole who will join us shortly is a rock rib republican, and is no longer a lone voice in the wilderness. i'm quoting now, the fact is that republicans face a new political reality on taxes. president obama's re-election means that taxes for upper income earners are going up one way or another. the question is how republicans should handle this reality. congressman cole, as y
obama and the democrats get their way, doing a deal to raise those rates where all bush cuts on all tax brackets expire at the end of the year. that is something that gives president obama a lot of clout right now. you can agree or disagree with the president's policy. that's for you to decide. congressman cole happens to disagree strongly, but at the same time he recognizes the political reality that all tax cuts will expire on january 1st. >> in my view, we all agree that we are not...
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Dec 7, 2012
12/12
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WJLA
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obama's approval rating of the highest level in more than a year. and associated press poll finds 57% of americans approve of the the president is doing. highest levels since the navy seals killed osama bin laden in may of 2011. up by points book -- from last month's election. also finds 42% say the country is on the right track. coming up, the inspiration doggie door bell. still ahead, frightening aments on >> good boy. that dog learns quickly. a veteran in oregon created what a doggie door bell. his dogsred of when heng the door out or come back in. about a year of testing with a portable doorbell to be insider outside. the dog seemed to love it. successful heso working on a version of cats. i just was the dog could let himself back in. he trainer how long it.dog to use dog could use one of those. thes take a look at weather. with that.ui jeras >> happy friday. i should get one of the lettings as opposed to my dogs scratching the door when he wants to go outside. you will need the umbrella of it -- you hardly need the umbrella but there areg spott
obama's approval rating of the highest level in more than a year. and associated press poll finds 57% of americans approve of the the president is doing. highest levels since the navy seals killed osama bin laden in may of 2011. up by points book -- from last month's election. also finds 42% say the country is on the right track. coming up, the inspiration doggie door bell. still ahead, frightening aments on >> good boy. that dog learns quickly. a veteran in oregon created what a doggie...
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Dec 4, 2012
12/12
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FOXNEWSW
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rates have to go up. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes? >> the fact of the matter is that it's vitally important that we extent and the president's view make permanent tax cuts for 98% of the american people. >> the president would like to see it done tomorrow and would sign it right away. >> they will put for ending deduction and closing loopholes. >> republicans move a great deal. who was the first person after the election was the speaker who went down and provided the re-knew. >> they blasted the proposal to limit deductions to tell bloomberg television it's unrealistic. >> that means every hospital and university and non-for profit, the agency. across the country would find themselves
rates have to go up. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes? >> the fact of the matter is that it's vitally important that we extent and the president's view make...
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Dec 3, 2012
12/12
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congress approval rating has been dreadful but scores low marks on ethics and honesty also. new gallop poll finds members of congress come in second to last among professions beating only car salespeople. car salesman took to twitter today to express displeasure with the poll. 10% said they would give congress a high to very high rating. 34% said average. 54% said very low to low. finally when researching the internet be careful when citing wikipedia. judge in england compiled a 2,000-page report on press ethics in which he warned that inaccuracy in newspapers caused significant concern. he claimed the independent was founded in 19786 by three journalists. he apparently got two names right. the third first appeare appearea wikipedia entry a year ago. far from being founder of the paper, the man's name is the same as a self-described beach bum from california whose only edit was on that page. the error was spotted and scrubbed by wikipedia a few weeks ago, but not in time to spare the judge's error. >>> as we told you earlier, president obama is rejecting a counter offer from
congress approval rating has been dreadful but scores low marks on ethics and honesty also. new gallop poll finds members of congress come in second to last among professions beating only car salespeople. car salesman took to twitter today to express displeasure with the poll. 10% said they would give congress a high to very high rating. 34% said average. 54% said very low to low. finally when researching the internet be careful when citing wikipedia. judge in england compiled a 2,000-page...
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Dec 2, 2012
12/12
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CNNW
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increases. >> there's not going to be an agreement without rates going up. >> president obama also proposed a $16 billion of spending cuts. >> i'm just flabbergasted. i looked at him and said you can't be serious. >> the house speaker says republicans put increased revenues including efforts to close tax loopholes and put the tax cuts on the table instead of raising tax rates for anyone. >> if there's another way to get income from upper income americans that doesn't hurt our economy, then why wouldn't we consider it. >> those are publicly unchanged deadlines. whether political theater or political reality, there's more to going over the fiscal cliff far beyond hypothetical. >> i think we're going over the clif. >> if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then that's the choice we have to make. >> emily joins us live from washington and so ellie, did anyone on any of the talk shows offer something resembling a bipartisan deal, or was effort just negativity? >> when the weekend began, an official w
increases. >> there's not going to be an agreement without rates going up. >> president obama also proposed a $16 billion of spending cuts. >> i'm just flabbergasted. i looked at him and said you can't be serious. >> the house speaker says republicans put increased revenues including efforts to close tax loopholes and put the tax cuts on the table instead of raising tax rates for anyone. >> if there's another way to get income from upper income americans that...
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Nov 29, 2012
11/12
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CNNW
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obama and the democrats get their way, doing a deal to raise just those rates would avoid the fiscal cliff, where all bush era tax cuts on all tack tax brackets expire at the ends of the year. the election, popular opinion and more give president obama a lot of clout right now. and you can agree or disagree with the president's policy. that's for you to decide. republican congressmen tom cole of oklahoma disagrees stronsly. at the same time, he recognizes the political reality that all tax cuts will expire on january 1st and no one wants to raise taxes on what would amount to 98% of all taxpayers. >> in my view, we all agree that we're not going to raise taxes on people that make less than $250,000. we should just take them out of discussion right now. continue to fight against any rate increases, continue to try to work honestly for a much bigger deal. >> congressman cole joins us shortly. a rock rib conservative. chair of the national republican congressional committee, and he's no longer a lone voice in the wilderness. the staunchly conservative editorial page of "the wall street
obama and the democrats get their way, doing a deal to raise just those rates would avoid the fiscal cliff, where all bush era tax cuts on all tack tax brackets expire at the ends of the year. the election, popular opinion and more give president obama a lot of clout right now. and you can agree or disagree with the president's policy. that's for you to decide. republican congressmen tom cole of oklahoma disagrees stronsly. at the same time, he recognizes the political reality that all tax cuts...
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Dec 3, 2012
12/12
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KPIX
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to go up for the wealthiest. >> reporter: gop lawmakers don't want higher rates and say the obama administration's proposed cuts to entitlements don't go far enough. >> i think we're going over the cliff. it's pretty clear to me they have made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare and medicaid and social security from bankruptcy. >> reporter: if a deal is not reached, taxes go up and spending will be clashed. defense contractors are sending the message to lawmakers those cuts would damage the military industry and weaken national security. the ceo of task, a company that develops aviation systems and software for intelligence agencies: >> over 50% of the defense budget is procuring services and services are underscored by jobs. so of course there will be job loss if you have cuts. >> reporter: the cliff hits at the end of the year. but congressional leaders say a compromise needs to be figured out in the next couple of weeks so lawmakers have enough time to debate and pass it. in washington, danielle nottingham, cbs 5. >>> so if
to go up for the wealthiest. >> reporter: gop lawmakers don't want higher rates and say the obama administration's proposed cuts to entitlements don't go far enough. >> i think we're going over the cliff. it's pretty clear to me they have made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare and medicaid and social security from bankruptcy. >> reporter: if a deal is not reached, taxes go up and spending will be...
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Dec 6, 2012
12/12
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FOXNEWS
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are you saying, then, for pr purposes that they should give in to obama on the tax rate? >> not exactly. well, yeah, i guess i am. >> sean: you're saying to capitulate to obama? we don't have a revenue problem, ann. >> we lost the election, sean. >> sean: we won the election in the house, ann. the government stays the same. >> but again, it's going to be like in 1994 when oh, yea, republicans won the house was ad the senate and the government shut down. that hurts republicans. it hurt them a lot. >> sean: republicans run on the idea that they're going to be for limited government, less government spending, lower taxes. >> they will be. >> sean: well, if they're going to raise taxes and buy obama's argument and co-op his language, then we're -- >> they're not allowing taxes to be raised on 98% of america. >> sean: you sound like obama. >> no, i don't. i see what the media can do. when the media convinces a majority of americans who voted in november that the economy was george bush's fault, we can't just say give into. >> sean: you're saying give into what the media is say
are you saying, then, for pr purposes that they should give in to obama on the tax rate? >> not exactly. well, yeah, i guess i am. >> sean: you're saying to capitulate to obama? we don't have a revenue problem, ann. >> we lost the election, sean. >> sean: we won the election in the house, ann. the government stays the same. >> but again, it's going to be like in 1994 when oh, yea, republicans won the house was ad the senate and the government shut down. that hurts...
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and house speaker john maynard discuss and the fiscal cliff and president barack obama suppresses his case today for a tax hike to help reduce the deficit. we are not insisting on rates just out of spite or any kind of partisan victory but rather because we need to raise a certain amount of revenue. >> and he made that pitch to several wealthy ceos he wants to raise taxes on the top 2 percent of income earners and he believes this will help raise the government's 16 trillion dollar debt coupled with spending cuts but the republican controlled house says the president has not responded to their latest proposal. >> i think we made a good-faith offer to avert the fiscal crisis and that offer included significant spending cuts and reforms and it included additional revenue and frankly it was the balanced approach mr. president has been asking for. erick kanter announced today there will be no adjournment into a credible solution to the fiscal cliff is found. >> house lawmakers proposed a bill today they claim will bring the costs under control and provide a safe retirement, it creates two
and house speaker john maynard discuss and the fiscal cliff and president barack obama suppresses his case today for a tax hike to help reduce the deficit. we are not insisting on rates just out of spite or any kind of partisan victory but rather because we need to raise a certain amount of revenue. >> and he made that pitch to several wealthy ceos he wants to raise taxes on the top 2 percent of income earners and he believes this will help raise the government's 16 trillion dollar debt...
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is president obama not serious? surely the leaderswould not play games that co result in a ten per -- 10% of the plumber rate, recession, and a massive wall street sell-off. a wall street veteran joins us next. with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly ose stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you opean account. now we ed a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner wiwith health care pressionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospital
is president obama not serious? surely the leaderswould not play games that co result in a ten per -- 10% of the plumber rate, recession, and a massive wall street sell-off. a wall street veteran joins us next. with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly ose stocks you want to follow. i'm mark allen of fidelity...
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Dec 4, 2012
12/12
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CNBC
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now, president obama wants higher revenues and higher tax rates but you know it often doesn't work out that way. in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love that. hey steve and keith. keith boykin i'll give you a little supply side. you'll hate this. this couples from the irs. the irs is going to use the bush cut, the dreaded bush tax cuts. the richest 1% paid $84 billion inflation adjusted dollars more between 2000 and 2007. that's a rise of 23%. in other words, their tax rates went down. and their tax revenues went up. now, isn't mr. obama making a mistake? >> well, the rich are paying more in taxes because the rich are disproportionately receiving most of the income in this country. the reality, larry, is that in my lifetime we've actually only raise
now, president obama wants higher revenues and higher tax rates but you know it often doesn't work out that way. in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love...
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is president obama not serious? surely the leaders would not play games that could result in a ten per -- 10% of the plumber rate, recession, and a massive wall street sell-off. a wall street veteran joins us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. ♪ lou: the uncertainty over the fiscal cliff, conflicting economic reports giving investors headaches and upset stomachs, at least some of them. to make sense of it all, wall street legend joins us and just moments. first, let's take a look and what caused all of the tanks in the "moneyline" tonight. unexpected weakness, an absence of leaders in washington creating anxiety, some volatility. adelle opening the month with a 60-point loss, s&p dropping, nasdaq eight, trading right on the average from monday, 3 billion shares
is president obama not serious? surely the leaders would not play games that could result in a ten per -- 10% of the plumber rate, recession, and a massive wall street sell-off. a wall street veteran joins us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz...
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excellent rating, 18% said the same for cuomo and both bloomberg and fema got 14% excellence ratings. cory booker is taking part in what he has labelled as the food stamp challenge. he will only eat what food stamps can provide, $4 a meal. a back and forth twitter exchange about the role in funding school breakfast and lunch programs. finally the kennedy center hohnr honore honorees. actor dustin hoffman, buddy guy and a balance lerina all in attendance in the east room event. >> it's different when you're not the one with the mike, isn't it, dave? you're looking a little stressed. >> led zeppelin. henry mancini and led zeppelin have the kennedy center honoree thing in common. oy. the markets will keep watching the slow going fiscal cliff negotiations today. how will wall street react to the latest maneuvering? to the market rundown. we'll let you know when to pay attention. is that still the case? >> i have to admit 28 days and counting. >> if we're in the same place in two weeks, i'll be nervous. >> the 15th they have to have a deal. >> it's nothing. >> it is if you want companies
excellent rating, 18% said the same for cuomo and both bloomberg and fema got 14% excellence ratings. cory booker is taking part in what he has labelled as the food stamp challenge. he will only eat what food stamps can provide, $4 a meal. a back and forth twitter exchange about the role in funding school breakfast and lunch programs. finally the kennedy center hohnr honore honorees. actor dustin hoffman, buddy guy and a balance lerina all in attendance in the east room event. >> it's...
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president obama's approval rating has soared since this election. it stands at 57%, according to a new associated press poll. that is his highest park since may of last year when osama bin laden was killed. it's five points higher than before the election. 52% of the believe the country is on the right track, and most believe president obama will improve the economy. >>> the face of politics will change today, so to speak. david axelrod is saying sayonara to his mustache. he promised to shave it if he raised more than $1 million for epilepsy research. he surpassed his goal. the facial hair will soon be no more. you're saying your dad had a beard. when he shaved, you didn't recognize him. >> he had a beard until i was 10 or 11 years old. he shaved it one day and i said, who is that? >> melissa mollet had a similar story about her dad. >> your facial hair, it's a big statement. >> okay. >> we'll see how he looks. coming up on 6:51. time to get a check of weather and traffic on the ones. >>> eun and richard, good morning to you. good morning to everybo
president obama's approval rating has soared since this election. it stands at 57%, according to a new associated press poll. that is his highest park since may of last year when osama bin laden was killed. it's five points higher than before the election. 52% of the believe the country is on the right track, and most believe president obama will improve the economy. >>> the face of politics will change today, so to speak. david axelrod is saying sayonara to his mustache. he promised...
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obamas approval rating stands at 57% rise as the raid that killed osama bin live in. 37 percent say obama have been average-- above average or outstanding of 36 percent say he's been below average. another 25 percent say is just average. >> more than 2000 people are expected at pearl harbor today to mark the 71st anniversary of the japanese attack that killed thousands of people and pull the u.s. and you--world war two. a moment of silence is planned for 755 local time today marking the moment the bombing began. the crew of a guided missile destroyer was banned on deck while the ship passes the uss arizona, a battleship that still lies in the harbor where it sank. hawaii national guard will fly overhead in missing man formation. the navy and national park service also hostess armani remembers of the 2390 service members and 49 civilians killed in the attack. the time is for 20 7:00 a.m. we will be back on the kron 4 news. a live look out sideshows' from this viewpoint no fog from here but janu is tracking fog in novato napa and in the north bay. santa rosa is thing fall. currently 40 degr
obamas approval rating stands at 57% rise as the raid that killed osama bin live in. 37 percent say obama have been average-- above average or outstanding of 36 percent say he's been below average. another 25 percent say is just average. >> more than 2000 people are expected at pearl harbor today to mark the 71st anniversary of the japanese attack that killed thousands of people and pull the u.s. and you--world war two. a moment of silence is planned for 755 local time today marking the...
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Dec 1, 2012
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voters is more unified democratic coalition support letting the tax rates expire. that's why i think you see democrats -- that's why you see democrats being much more adamant on that, certainly than they were in 2010. look, i think the country wants a zeal, and like ryan, i think we're going to get a deal. at some point in the next six months, we're going to end up with a tax rate for those at the top that is higher than it is now, but lower than it was under bill clinton. it's going to be messy getting there, but a higher rate for those at the top seems to be an inevitable outcome of this. >> speaking of messy, the progressives love to get on the bandwagon on that one issue. what are they going to do when the president starts moving against entitlements? >> well, you know, what's interesting on that, republicans gambled and lost, i think in the summer of 2011, president obama showed willingness to go much further on entitlements than he is today. he'll end up going further on a deal than he is now. but not as far as he would have then. he will have to confront his
voters is more unified democratic coalition support letting the tax rates expire. that's why i think you see democrats -- that's why you see democrats being much more adamant on that, certainly than they were in 2010. look, i think the country wants a zeal, and like ryan, i think we're going to get a deal. at some point in the next six months, we're going to end up with a tax rate for those at the top that is higher than it is now, but lower than it was under bill clinton. it's going to be...
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she has gotten more tax breaks since obama was president -- she pays a lower rate than she did for the past 60 years. guest: in terms of the retroactive application --there is a possibility we could come back in january and say we will reinstate those tax rates for everybody except those people making more than $250,000. host: we have about 30 seconds. the likelihood these credits will be reduced. guest: it will be a crapshoot. host: steven sloan from politico. thank you. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> tomorrow, robert van order looks at the mortgage loan forgiveness. then bradford fitch discuss this orientation session for congress. members- elect in congress. after that, a member of the autistic self advocacy network on being an adult with autism, and the federal role supporting autistic adults and children. washington journal, live saturday at 7:00 a.m. eastern, on c-span. coming up, we will hear about the syrian civil war from a spokesman with the national coalition for a position, followed by a lo
she has gotten more tax breaks since obama was president -- she pays a lower rate than she did for the past 60 years. guest: in terms of the retroactive application --there is a possibility we could come back in january and say we will reinstate those tax rates for everybody except those people making more than $250,000. host: we have about 30 seconds. the likelihood these credits will be reduced. guest: it will be a crapshoot. host: steven sloan from politico. thank you. [captioning performed...
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i really worry that president obama, we consider that he's overreaching, it's too much, you know. at the end of the day president obama is selling a very simple message. i want to keep taxes low for middle class americans and republicans, i'm worried, are in the position of looking as if they don't care about the middle class and want to keep tax rates low for wealthy americans. >> one of the things that struck me in my interview with tim geithner, the republicans were a little unclear. he said the bush tax rates had to go up but not all the way up and geithner said they had do have to go up to 39.6%. >> i still think the white house is willing to settle for something in the middle there above the bush tax rate but maybe not all the way back up to clinton, maybe not 250 and above, maybe 500. i think there are moving parts there. i think he says in every speech he goes out there and gives the hard line message to the base i'm not going to be the woos you thought i was last time. he says i want to compromise and we all have to get out of our comfort zone. i want a deal. >> and repub
i really worry that president obama, we consider that he's overreaching, it's too much, you know. at the end of the day president obama is selling a very simple message. i want to keep taxes low for middle class americans and republicans, i'm worried, are in the position of looking as if they don't care about the middle class and want to keep tax rates low for wealthy americans. >> one of the things that struck me in my interview with tim geithner, the republicans were a little unclear....
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i think there are some compromise points, for example, raise the top rate almost to where obama wants it and fill it in a little bit with some reduction in deductions. that's not impossible to imagine. but i think the notion that the republicans don't have to put anything on the table, i think those days are over and it's time for them to say all right here's what we want. >> can't come as any surprise to the republicans no matter what they want to say about it the president wants to raise taxes and determined to raise taxes on the rich. it's one thing during the campaign he was specific and consistent on. it seems to me like they are even more upset about what they see his like of specificity on entitlements. let's play what we heard from his chief negotiator, tim geithner yesterday. >> we can't figure out what they need. they have to tell us. then we have to take a look at it and see if it makes sense for the american public. >> when will we see people putting something on the table or is that not going to happen until like the 30th, 31st of the month? >> well, what i would say is i
i think there are some compromise points, for example, raise the top rate almost to where obama wants it and fill it in a little bit with some reduction in deductions. that's not impossible to imagine. but i think the notion that the republicans don't have to put anything on the table, i think those days are over and it's time for them to say all right here's what we want. >> can't come as any surprise to the republicans no matter what they want to say about it the president wants to...
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. >> let's allow higher rates to go up for the top 2%. that includes all of you, yes? >> president obama speaking to business leaders when he made that comment today at the white house. insists he will veto any bill that does not include tax increases on wealthier americans. >>> coming up an online shopping horror story, a maryland woman's story may convince you to read the fine print. >> last night we were around 60 degrees most places at this hour. tonight we're some 20 degrees colder than that. i'll let you know how low it gets overnight and if we'll see more warm air on the horizon, but get ready for a chilly overnight. the rest of the forecast is coming up on the news edge at 11:00. >> this is fox 5 news edge at 11:00. you won't take my l life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are
. >> let's allow higher rates to go up for the top 2%. that includes all of you, yes? >> president obama speaking to business leaders when he made that comment today at the white house. insists he will veto any bill that does not include tax increases on wealthier americans. >>> coming up an online shopping horror story, a maryland woman's story may convince you to read the fine print. >> last night we were around 60 degrees most places at this hour. tonight we're...
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Nov 29, 2012
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obama and the democrats get their way, doing the deal to avoid raising the rates and avoiding the fiscal cliff, where all tax cuts and brakes expire at the end of the year. that is an election, popular at the end of the year, certainly give president obama a lot of clout right now. you can disagree or agree with the policy. that is for you to decide. republican tom cole of oklahoma happens to disagree strongly. at the same time, he recognizes the political reality that all tax cuts will expire on january one, and no one wants to raise taxes on what would amount to 98% of all the taxpayers. >> in my view, we agree we're not going to raise taxes on people that make more than $250,000, we should just take them out of this discuss right now. continue to fight against any rate increases and continue to fight for a much bigger deal. >> congressman cole joins us, the staunchly conservative editorial page of "the wall street journal is on board now. president obama's re-election means that taxes for upper income earners are going up one way or another. the question is how republicans should hand
obama and the democrats get their way, doing the deal to avoid raising the rates and avoiding the fiscal cliff, where all tax cuts and brakes expire at the end of the year. that is an election, popular at the end of the year, certainly give president obama a lot of clout right now. you can disagree or agree with the policy. that is for you to decide. republican tom cole of oklahoma happens to disagree strongly. at the same time, he recognizes the political reality that all tax cuts will expire...
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package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? michigan's republican governor ready to do plitical battle with organized labor in his state. what about a right to work law? straight ahead. [beep] [indistinct chatter] [kids talking at once] [speaking reign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me ♪ ♪ i was a lonely soul, but that's the old me... ♪ announcer: this song was created with heartbeats of children in need. find out how it can help frontline health workers bring hope to millions of children at everybeatmatters.org. lou: the staffs of both president obama and house speaker boehner are talking, but there is still no word of progress on the so-called fiscal cliff or the president's ultimatum. silence indicate a deal in the works or something too ugly for them to contemplate?@ we'll have the
package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? michigan's republican governor ready to do plitical battle with organized labor in his state. what about a right to work law? straight ahead. [beep] [indistinct chatter] [kids talking at once] [speaking reign language] [heart beating] [heartbeat continues] [faint singing]...
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the white house saying president obama is saying rates should go up on those making $250,000 or more. these are two starting proposals. the white house has put their proposal out last week. it really drew a hard line, calls for $1.6 trillion in new tax revenue, most of that coming from increasing taxes on wealthier americans, but this republican plan very different, does not call for increasing taxes on wealthier americans. president also wants to end congressional oversight of the debt limit. there's no such offer in the republican plan. in fact, some aides have told me that that is a pipe dream. so these two sides still very far apart. now, tonight, martin, the white house will be inviting members of congress here for the holiday party. house speaker john boehner will be here as well. there have been a lot of questions about whether these two will run into each other, whether they will talk about the fiscal cliff. no one is signaling what they might discuss, but house speaker john boehner when asked about tonight's event said that he thinks he might run into the president. >> no dou
the white house saying president obama is saying rates should go up on those making $250,000 or more. these are two starting proposals. the white house has put their proposal out last week. it really drew a hard line, calls for $1.6 trillion in new tax revenue, most of that coming from increasing taxes on wealthier americans, but this republican plan very different, does not call for increasing taxes on wealthier americans. president also wants to end congressional oversight of the debt limit....
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. >> bret: this is a different president obama than in the debt ceiling negotiations. last time around. they are clearly signals that they have the stronger hand. and they are not -- it doesn't even seem like they are getting to a room. >> yeah. >> bret: to negotiate. >> they feel like they have the stronger hand because he won re-election an every pole shows most americans are fine with the tax rates going up on people making more than $250,000. so they feel like they have that on their side. what they also have on their side the president you can't forget did give in on this issue twice. in the last time he gave in on it he said never again. so that is what is hanging over him. he has his base looking at him saying you gave in on this two times. it's now time to live up to your word. so he is kind of boxed in, in a way politically as well that he has to give this. i agree with charles. you can get the money a different way. i don't think they are going to compromise on that. >> bret: is the base just looking for the scalp of the rates, instead of the money? >> yes. >
. >> bret: this is a different president obama than in the debt ceiling negotiations. last time around. they are clearly signals that they have the stronger hand. and they are not -- it doesn't even seem like they are getting to a room. >> yeah. >> bret: to negotiate. >> they feel like they have the stronger hand because he won re-election an every pole shows most americans are fine with the tax rates going up on people making more than $250,000. so they feel like they...
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president obama and john boehner did the gangnam style, your approval ratings might go up. "outfront" tonight, tom mcclintock of the budget committee. thank you for taking the time. we just showed a lot of your colleagues going home on a wednesday night after working a three-day week. obviously, that's an image that frustrates so many americans. why are people going home before getting this done? >> well, unfortunately, we're not using the standard process where the house passes its version, the is that the passes its version, then a conference committee is very good in revolving impasses like this between the two houses. unfortunately, none of that's being used and i think that's one of the reasons why these things are blocking down now so regularly. we've abandoned a process that works very well when we use it. >> john boehner presented a plan to the president and in that plan, he put $800 billion in revenue from the wealthy on the table. he said he would close loopholes and those people would pay more money. you were a member of the tea party caucus and some in your cauc
president obama and john boehner did the gangnam style, your approval ratings might go up. "outfront" tonight, tom mcclintock of the budget committee. thank you for taking the time. we just showed a lot of your colleagues going home on a wednesday night after working a three-day week. obviously, that's an image that frustrates so many americans. why are people going home before getting this done? >> well, unfortunately, we're not using the standard process where the house passes...
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i think john boehner has to go back to his members and say look, president obama won the election, polling suggests we republicans lose if we go over the cliff, and i got this one thing that's going to mitigate your unhappiness over the fact that we're moving up rates on the wealthiest americans. he needs the third part to sell the whole package. >> and david, there is a jobs report today which sort of mixed news for everyone. it's a good number, down to 7.7%, unemployment, 146,000 new jobs added but the downside is that fewer people were in the labor force a lot fewer, because people gave up on even trying. >> i think this is one of the more provocative questions and get to it on sunday, which is, are we too focused on the debt. are we not focused enough on what the government can be doing to try to spur job growth? beyond just -- >> there was a stimulus piece in the offer from the white house that was laughed at by the -- >> laughed at but could end up surviving. one of the things about the president's initial offer is it may have sent a bad signal to conservatives but it did have the ef
i think john boehner has to go back to his members and say look, president obama won the election, polling suggests we republicans lose if we go over the cliff, and i got this one thing that's going to mitigate your unhappiness over the fact that we're moving up rates on the wealthiest americans. he needs the third part to sell the whole package. >> and david, there is a jobs report today which sort of mixed news for everyone. it's a good number, down to 7.7%, unemployment, 146,000 new...
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lower student loan interest rates, he won. the president is primarily focused on step one of this process-- winning the middle class tax cut debate. step two is being led by his treasury secretary jim geithner and liaison rob nabors. they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major, president said today he thought all this could be done by christmas. why does he think so? >> reporter: because that is the big takeaway, scott, from the president's conversation on saturday with house speaker john boehner. the two agreed it was in foeryone's best interest to get a fiscal cliff deal sooner rather than later, both agreed to aim for one before christmas, but they also acknowledged, scott, it will be very difficult to achieve that. >> pelley: thank you, major. will the president's team find a receptive republican congress? nancy cordes is on capitol hill for us tonight. nancy. >> reporter: well, scott, one top republican aide actually
lower student loan interest rates, he won. the president is primarily focused on step one of this process-- winning the middle class tax cut debate. step two is being led by his treasury secretary jim geithner and liaison rob nabors. they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major, president said today he thought all this could be done by christmas. why does he think so? >>...
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do people agree with the obama administration, this threat of going off the cliff if rates aren't reached. here's what nancy pelosi had to say about geithner's remarks. let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be a shame it if anything happened to it. that's not a threat. look, we have to start looking at what happens if we do, in fact, go over the so-called cliff, and what happens is, you know, one thing is we take a huge bite out of the deficit. we do it in a crude may, and there would be immediate attempts to fix it and fine-tune it and take some back. some would probably get through. if you actually want to look at it from a policy standpoint, it may not b
do people agree with the obama administration, this threat of going off the cliff if rates aren't reached. here's what nancy pelosi had to say about geithner's remarks. let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of...
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president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for anybody, but an incrowsing number of republicans -- an increasing number of republicans are saying they will have to give in to democrats' demands. you know i read a number of websites that said republicans have waived the white flag on some issues, but not all of them. assuring republicans they don't have to vote for a tax increase. >> and it technically may be correct, but not many are buying this new strategy from the white house since the tax cuts from the middle class and those from the top 2% are both set to expire at the end of the year. the white house says congress really only has to extend one of them. the president continues to put political pressure on lawmakers. he met with a middle class family selected from thousands who responded when the white house asked
president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for anybody, but an incrowsing number of republicans -- an increasing number of republicans are saying they will have to give in to democrats' demands. you know i read a number of websites that said republicans have...
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tax rate? he raises the tax rate in order to spend. seems to me that taxing and spending is his mantra, just like the east european mantra and the california and new york -- why would you want to raise the tax rate $1.6 trillion if youp didn didn't want to spe? that's a big number. >> it is. jared bernstein was in "the new york times" complaining about the tax cutting in this country over the past 30 years. and jared says, we've gutted the tax code, we're just not getting enough revenue for all the spending we want. >> i would gut the tax code of all its special deductions and loopholes and whatnot and take the rate down to about 15%. i am a flat tax guy. what i don't get is why the united states wants to imitate the mistakes of western europe, jim pethokoukis. that's what i don't get. you get the last word. >> i think it's stunning and i hope we learn from yoour mistak as quickly as they did in great britain. >>> who needs to wait for a recession? our next guest says we may already be in one a
tax rate? he raises the tax rate in order to spend. seems to me that taxing and spending is his mantra, just like the east european mantra and the california and new york -- why would you want to raise the tax rate $1.6 trillion if youp didn didn't want to spe? that's a big number. >> it is. jared bernstein was in "the new york times" complaining about the tax cutting in this country over the past 30 years. and jared says, we've gutted the tax code, we're just not getting enough...